 Becoming rich, wealthy or a millionaire. It became a trend and style. These days the new generation is working on becoming rich and wealthy. Existing billionaires and millionaires are one of the reasons that millennials are working on the path to become wealthy. In South Korea the number of millionaires went up since the beginning of COVID-19 and economic issues around the world. The number of Korean millionaires who own net worth of more than one million dollar was one million fifty thousand people last year by June 2021. Korean millionaires are about two percent of the world's millionaires. When there's an economic issue like inflation, economic crisis or anything unpleasant like COVID-19 can create more millionaires and the rich can get richer. Usually price of real estate and stocks go up and create more money for the rich. United States of America has 21 million millionaires. China has 5.2 million millionaires. Australia has 1.8 million millionaires and United Kingdom has 2.5 million millionaires. Let's see how South Korean millionaires became millionaires. And you better know how millionaires are getting rich and wealthy. Maybe it helps you to become a millionaire too. Okay what does it take to get rich in South Korea? According to a survey by Hanna Institute of Finance 58% of the rich owns properties and 42% own financial assets. So it means that the more money is in real estate assets and financial assets. How these people got the money to invest in these areas? According to the survey almost half of the rich Koreans picked the earned income as the main origin of their asset building. 23% business income and 18% inheritance and 15% is property income. Young Koreans stretched their holdings through diverse income sources. One of the main reasons that young millionaires in South Korea became riches that they were able to actually create multiple income streams. Having only one income stream means like you're just one step away from poverty line. And how to create multiple income streams. Updating yourself with high income skills. If you learn a high income skill you will not exchange your time for money anymore. You will exchange value for money. Value that you can create with your skill. Maybe you can solve a problem within just one hour and you can get paid more than a month's salary of an average employee. This is how half of the Korean millionaires got rich and wealthy. Oh guys for more videos about personal finance investing and sorting a business in South Korea please subscribe to the channel hit that like button. If you have any specific question comment below I will definitely answer you. Okay guys see you in the next video. Thanks and have a good day.